Silver price

[dreamboxvip]

I started collecting silver coins and watching the price of silver in may of 09'. From 2009 to april 2011 the price was going up, since then its went down. What does the future price hold? More of the same? Decrease? Increase? Seems like the price just bounces around the same dollar amount for months. Any opinions??

 

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[enamel7]

It's a combination of many things. The stock market is falsely inflated right now due to the fed pumping money into it. Every time the fed mentions cutting back the money train the market falls. They know what will happen. Wait until the interest rates skyrocket. Food prices have already started going up. They think it won't happen if they keep throwing money at it. Only thing they're doing is making it worse in the long run.

 

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[StevoCBR]

I will. I just don't understand the whole doomer thing. It seems like it is a viewpoint held mostly by the unemployed and underemployed and people that have a hard time fitting into mainstream society. China does not want any of the major nations' economies to fail. The vast majority of China's GDP is derived from manufacturing and exporting to the U.S. and Europe. If the U.S. or Europe fails, so does China. That's how the world economy works. China has bigger things to worry about than getting paid by the U.S. That country is on the brink of falling apart from the inside out because of how much pollution they generate. They also have to worry about how they will continue to prop up their own housing industry that is starting to run out of places to build "phantom" cities that are not inhabited by anyone. They also have to continually manipulate their own currency to keep it artificially weak so that other nations will continue to import their goods. (ie, look at Mexico for a lesson in what happens when 3rd world manufacturing nations start becoming wealthy).

Like I said, I hope you guys keep living in fantasy land. It's good for the value of my CRH finds.

You don't understand the "whole gloom thing" because you haven't educated yourself. Just look at my old posts and I have laid out a pretty strong argument.

And your comment about most that hold that view point are poor, unemployed or a ****** aka hard time fitting in society shows your lack of knowledge. I live in a town of 500K that has several LCS's. I don't hunt anymore as its a waste of time and just stack so I'm in my LCS often and everytime I am in there people that are buying are buying 1k-2k at time and from every walk of life to the young professional, to white hairs. I would argue that actually the people that are buying are the smart ones...again don't take my word for it....do your own homework.

I do agree with you that it is in China's best interest to keep our consumer fueled consumerism going since it benefits them in trade. But even rats know that at some point you have to jump off a sinking ship.

So I am bit confused as you say but yet you point out some points on China artificially sustaining growth through ghost cities. And you understand how the worlds economies are tied together... Yet you think that stacking and "preparing" for harder times is stupid.

Well keep reading, the truth shall set you free. Actually these are not the droids your looking for....just go back to sleep...it's better for us stackers.

Oh and I have meet the nicest stackers and most are very knowledgeable. So the on the bright side for you that don't get it, is that us that do are also making plans to help our neighbors so maybe you'll get lucky and live by somebody that preps if and when the time ever comes that we might might need it you might get lucky and live by one of us "unemployed folks that have a hard time adapting to society"

 

[Jeremy S]

I have complete confidence in the true value of gold and silver because I have no confidence in the value of fiat currencies...esp the USD. I don't know how long it will take the rest of the world to wake up to the reality that our bonds and currency are worthless and we can never pay our creditors back. Its all just a con to enable our government and the citizens of this country to continue borrowing, spending and consuming which will eventually end very badly for most citizens of this country. After the USD sells off and looses its status as the worlds reserve currency and interest rates finally rise, PM prices will explode well beyond historic highs. There's no way to time this with any certainty but the important thing is just understanding the economic reality of what's happening and being prepared for when it finally happens.

H$H!

Have you ever read any James Wesley Rawles books? He pretty much covers this exact scenario!

 

[SilverFace]

The Fed has continued to print money and keep interest rates low.

That's the major source of our economic problems today. The Fed with their continued cheap money policy and price fixing interest rates at 0% hasn't strengthened our economy at all. All those policies do is inflate asset bubbles in the bond, stock and housing markets to give the appearance of a strengthening economy. 0% interest rates and an ever increasing supply of USD's is great for debtors like the US government and most citizens of this country who are in debt as well. But those policies are horrible for savers, investors, creditors and an actual strong and growing economy. We have no intention or ability to pay our national debt so the Fed policy is to just inflate our debt away which will destroy our currency and our economy and send PM prices sky high.

Basic fundamental economics is no more a matter of opinion than are the laws of physics. And the absurd Keynesian policies we've had in this country for most of the last century is nothing but complete economic insanity. Comparing Keynesianism to real economics is like comparing voodoo to science or comparing astrology to astronomy. Unfortunately people like Janet Yellen who have the most influence and control of economic policy in this country don't have any understanding of real economics. If Janet Yellen knew anything at all about real basic economics she would have never been elected to the powerful economic position she now has.

The three main reasons to own PM's are: an ever increasing money supply, 0% interest rates and Janet Yellen - who's a prime example of a failed education system in this country, esp. regarding the subjects of economics and history.

H$H!

 

[SilverFace]

If the price of PMs were solely dependent on US currency supply, then why did the price of gold and silver drop from $33/oz to $19 for silver and from $1600/oz to $1300 for gold?
The Fed has continued to print money and keep interest rates low.

I didn't mean to ignore the first part of your quote, I think I just misunderstood what u were saying or asking. There are a lot of factors influencing PM prices in the short term that often times don't make any sense. That's why I don't try to time any of it. But the long term increasing trend in PM prices, esp gold, has well out performed the stock market over the past 15 years. But u rarely if ever hear any of the financial media reporting this. The financial media and most so called "financial experts" are just as bad as the government with their ignorance, propaganda and lies in their attempts to keep trying to inflate the bubbles in the stock market and housing market. When the so called financial experts that are bearish on PM's now and the financial news media start reporting that its time to start buying PM's then that will probably be the best indicator that is finally time to sell. But that time is no where near - by that time gold will probably be over $10,000 and silver will be in triple digits.

 

[jr98119]

Basic fundamental economics is no more a matter of opinion than are the laws of physics. And the absurd Keynesian policies we've had in this country for most of the last century is nothing but complete economic insanity. Comparing Keynesianism to real economics is like comparing voodoo to science or comparing astrology to astronomy. Unfortunately people like Janet Yellen who have the most influence and control of economic policy in this country don't have any understanding of real economics. If Janet Yellen knew anything at all about real basic economics she would have never been elected to the powerful economic position she now has.

The three main reasons to own PM's are: an ever increasing money supply, 0% interest rates and Janet Yellen - who's a prime example of a failed education system in this country, esp. regarding the subjects of economics and history.

H$H!

+1. I urge everyone here to read Martin Armstrong. Sometimes unintelligible, but always intelligent reading on this subject.

 

[fistfulladirt]

All they have to do (TPTB) is make PM ownership a felony, tax it heavily, or even confiscate, to protect the status of the dollar, the world's reserve currency. Anything is possible.

 

[SilverFace]

All they have to do (TPTB) is make PM ownership a felony, tax it heavily, or even confiscate, to protect the status of the dollar, the world's reserve currency. Anything is possible.

The US government might likely do that to US citizens again but that wont protect the value of the USD. Its foreign creditors that own a large percentage of USD's and it will be more difficult for the US government to control PM ownership of foreign countries. Although I believe the US government did announce a while ago they weren't going to allow Germany to reclaim all the gold they wanted immediately when that country was trying to cash in some treasuries - so that's probably just an example of future defaults to our foreign creditors yet to come. The truth is the USD is doomed. What is impossible is the US government or the Fed will ever do the right thing in regards to monetary and fiscal policy until its too late and they have absolutely no choice. The only thing that will ever restore the value of the USD is returning to a gold standard again. But our conscientious patriotic government officials in Washington and other PTB would rather completely destroy our economy and our country before ever deciding to do a responsible thing like that. They will continue the same insane Keynesian monetary and fiscal policies as long as they can to the very end like mad scientists hell bent on destroying the world.


H$H!